Baku, Azerbaijan, Jan.28
By Rufiz Hafizoglu - Trend:
A package of benefits to encourage people to acquire real estate on credit will enter into force in Turkey, the Anadolu agency reported the Turkish Prime Minister Ahmet Davutoglu as saying Jan. 28.
The Turkish government will provide financial support in the form of an initial payment of 20 percent of the value of the property acquired on credit, according to the package of benefits.
The head of the Housing Development Administration under the country's Cabinet of Ministers said earlier that the new package of benefits for purchasing real estate will apply to Turkish citizens only and will be effective from February 2015. However, he didn't disclose other details of the benefit package.
Some 115,786 pieces of property were sold in Turkey between January and September 2014, which is 13.2 percent more than in the same period of 2013, according to the Turkish Statistical Institute.
The city of Istanbul leads the real estate market at 18.1 percent, followed by Ankara at 6.1 percent during the reporting period, the Turkish Statistical Institute said.
It was earlier reported that 37.3 percent of real estate in Turkey was sold on credit in January -September 2014.
Some 1,857 properties were sold to foreigners during the reporting period.
Edited by CN
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